DUBAI, UNITED ARAB EMIRATES--(Marketwire - Sept. 27, 2010) - Black Marlin Energy Holdings Limited ("Black Marlin") (TSX VENTURE:BLM) is pleased to announce that on September 21, 2010 Afren plc ("Afren") received the approval of the requisite majority of Afren shareholders for the proposed acquisition of Black Marlin by Afren pursuant to a scheme of arrangement under the laws of the British Virgin Islands (the "Arrangement").

Black Marlin is also pleased to provide an update with respect to the Arrangement to the shareholders of Black Marlin. As previously disclosed, the final court hearing to approve the Arrangement is expected to be held on October 6, 2010 and the Arrangement is expected to be completed and take effect on October 8, 2010 (the "Effective Date").

In order to facilitate the exchange of the ordinary shares of Black Marlin ("Black Marlin Shares") for Afren shares ("Afren Shares"), Black Marlin will request that market trading of the Black Marlin Shares be halted at least 7 days prior to the Effective Date. Accordingly, the last day of dealings in, and for registration of transfers of, Black Marlin Shares on the TSX Venture Exchange (the "TSXV") will be September 29, 2010. Following market close on such date, trading of the Black Marlin Shares on the TSXV will cease. In addition, Black Marlin intends to close the register of shareholders maintained by Olympia Trust Company after close of business on the business day prior to the Effective Date.

Shareholders of Black Marlin ("Black Marlin Shareholders") who intend to trade Black Marlin Shares prior to the Effective Date, where such trade will not settle prior to the Effective Date are advised to consult their broker or other intermediary or to make arrangements for alternative settlement. On the Effective Date, the Black Marlin Shares will be delisted from the TSXV.

The process for the issuance and receipt of the Afren common shares to be received as consideration for the Black Marlin shares is described in the management information circular mailed to shareholders in connection with the Arrangement dated August 11, 2010 and which is available at www.SEDAR.com. Black Marlin Shareholders entitled to receive Afren common shares and intending to trade the Afren common shares following the Effective Date but prior to the time of receiving the physical certificate representing such Afren common shares should make appropriate arrangements for settlement of such trades.

Forward Looking Statements:

This press release includes "forward-looking statements" within the meaning of Canadian securities laws, including Canadian Securities Administrators' National Instrument 51-102 Continuous Disclosure Obligations. Forward-looking statements are commonly identified by such terms and phrases as "would", "may", "will", "expects" or "expected to" and other terms with similar meaning indicating possible future events or actions or potential impact on the businesses or shareholders of Afren Plc and Black Marlin Energy Holdings Limited. Such statements include, but are not limited to, statements about the anticipated benefits, timing of completion, savings and synergies of the proposed acquisition of Black Marlin by Afren, including future financial and operating results, the plans, objectives, expectations and intentions of the combined company, the future development of the combined company's business, and the contingencies and uncertainties to which Afren and Black Marlin may be subject and other statements that are not historical facts. The press release also includes information that has not been reviewed by the independent auditors of Afren or Black Marlin. There is no assurance that the proposed transaction contemplated in this press release will be completed at all, or completed upon the same terms and conditions described.

The following factors, among others, could cause actual results to differ materially from those set forth in the forward-looking statements: the ability to obtain required approvals of the proposed acquisition on the expected terms and schedule; the risk that the businesses will not be integrated successfully; the risk that the cost savings and any revenue synergies from the acquisition may not be fully realized or may take longer to realize than expected; and disruption from the acquisition making it more difficult to maintain relationships with the regulatory agencies, employees or suppliers. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the periodic reports filed by Black Marlin.

All forward-looking statements in this press release are expressly qualified by information contained in each company's filings with regulatory authorities and neither company undertakes to publicly update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.